| A | B |
|---|
| managers | empowering employees lessens the need for these |
| GDP | A measure of a nation’s wealth |
| legal and illegal | underground economy can include these types of activities |
| small businesses | majority of workers in this country are employed by |
| managerial effectiveness | success of a business depends greatly on |
| business owners | THESE people should be well informed about ALL 3 business activities of production, marketing, finance |
| decreases | advanced technology, does what to the cost of each unit produced |
| franchise fee | exclusive rights to sell the franchised product is granted to In return for THIS payment |
| $15 trillion | GDP in US in 2010 was about this |
| franchisee | The BUYER of a franchise |
| finance | activity of business deals with all of the money matter involved in running a business |
| underground economy | Income that is not recorded in the GDP |
| empowerment | Letting workers decide how to perform their work tasks and offer ideas on how to improve the work process |
| effectiveness | Making the right decisions about what products or services to offer customers and the best ways to produce and deliver them |
| foreign goods | Products made by firms in other countries |
| global competition | The ability of businesses from one country to compete with similar businesses in other countries |
| franchisee | The distributor of a franchised product or service |
| output | The quantity, or amount, produced within a given time |
| Down | The cost of goods manufactured does this when mass production is used |
| franchise | This is a good method for starting a business if you have limited experience |
| Worker Productivity | Offereing employees a chance to purchase stock has been shown to increase this |
| Price | This is laregly determined by the interaction of BOTH supply and demand |
| Re-engineering | imrpoves works flow |
| 14% | the amount of Americans in recent years with incomes below poverty level |
| Small business | in the US starting one of these is actually fairly easy |
| Productivity | producing the largest quantity in the least time by using efficient methods and modern equipment |
| Gross Domestic Product | the total market value of all goods produced in a country in a year |
| failure rate | THIS is much higher for non franchised businesses than franchised businesses |
